3-Month Price of Steel Billet Collapses

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Commodities, Metal Prices, Premium

The steel billet 3-month price experienced the biggest price decline of the day, dropping 6.2 percent on the LME to close at $150.00 per metric ton on Monday, May 27. Also on the LME, the steel billet cash price held steady around $125.00 per metric ton.

Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.83) and a low price of CNY 830.00 ($135.20) per dry metric ton. After a couple of days of decreasing prices, the price of Chinese HRC held steady at CNY 3,470 ($565.23). The price of Chinese coking coal continues hovering around CNY 1,420 ($231.31) per metric ton for the fifth day in a row.

The US HRC futures contract 3-month price showed little movement last Friday at $600.00 per short ton. The spot price of the US HRC futures contract was unchanged at $578.00 per short ton.